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Following an uncomfortable struggle with a stubborn set of Tandberg ASA (OSE: TAA ) shareholders, Cisco Systems Inc. (Nasdaq: CSCO ) announced Friday morning it "has now received acceptances for or purchased shares representing more than 90% of the shares" in the Norwegian conferencing systems vendor, and that it will proceed with its $3.4 billion acquisition.
Dec. 4 (Bloomberg) -- Cisco Systems Inc. , the world’s largest maker of networking equipment, said it has about 91 percent of Tandberg ASA shares, allowing it to carry through its 19 billion-kroner ($3.38 billion) bid for the Norwegian company.
Cisco Systems Inc. said Friday it now has enough shares and shareholder commitments to take over Norway's Tandberg ASA, the world's largest videoconferencing equipment maker.
Dec. 4 (Bloomberg) -- Cisco Systems Inc. , the world’s largest maker of networking equipment, said it has about 91 percent of Tandberg ASA shares, allowing it to carry through its 19 billion-kroner ($3.38 billion) bid for the Norwegian company.
San Jose-based Cisco Systems Inc. said it has about 91 percent of Tandberg ASA shares, allowing it to carry through its $3.38 billion bid for the Norwegian company.
Cisco Systems Inc. says it is waiving its condition that 90 percent of shareholders of Norwegian videoconferencing equipment firm Tandberg ASA back its $3.4 billion takeover offer and will close the deal as soon as possible.
(AP:SAN JOSE, Calif.) Cisco Systems now says it has control of enough Tandberg ASA shares to take over the Norwegian company.
Associated Press - December 4, 2009 8:04 AM ET SAN JOSE, Calif. (AP) - Cisco Systems now says it has control of enough Tandberg ASA shares to take over the Norwegian company.
SAN JOSE, Calif. (AP) - Cisco Systems now says it has control of enough Tandberg ASA shares to take over the Norwegian company.
Associated Press - December 4, 2009 8:04 AM ET SAN JOSE, Calif. (AP) - Cisco Systems now says it has control of enough Tandberg ASA shares to take over the Norwegian company.
SAN JOSE, Calif. (AP) - Cisco Systems now says it has control of enough Tandberg ASA shares to take over the Norwegian company.
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